Categories: Business

PE-VC funds in the electric vehicle sector up to 3 times this year

Chennai: Indian electrical vehicle sector (EV) has captured local and global investors.
The surge in interest comes behind supporting government policies, increasing awareness of the importance of sustainability, and the increase in gasoline prices.
In 2021 it has recorded 11 investment transactions worth $ 519 million in this sector compared to 13 investments in value of $ 165 million in 2020, and 22 transactions worth $ 490 million in 2019, according to data from venture intelligence (see graph).
The agreement is across the value chain in electrical mobility – ranging from battery makers to energy storage to original equipment manufacturers (OEM).
Investment connecting includes the fourth energy-renewable energy company and wealth that also operates in the electrical mobility room.
Electric heroes collected around $ 30 million in the first part of the B-Series Round LED by Gulf Islamic Investments (GII) and existing investor Oaks assets management to expand production capacity in July.
Tech Startup Log9 battery materials collect around $ 8.5 million from various investors.
Euler Motors, EVS tricycle cargo maker, collects around $ 7 million from various investors this year.
Electric debt $ 100 million from Bank Baroda this year is the largest debt financing for this sector.
Industry trackers say when EVS gets a critical mass, there is more willingness among investors this year to bet on startup in this segment.
Conventional carmakers warming up to EVS have also increased investor appetite.
Globally, the shift to electricity mobility has increased with fears of climate change.
However, unlike Western and Chinese, where personal transportation will be electricity, here two wheels along with tricycle and buses is likely to write Indian EV stories, analysts said.
Neeraj Mohan, Head of Parthenon Ey India (EY Consultation Arm), said that technology breakthroughs have reduced EV costs for the mass market coverage, and increasing consumer sentiment.
“India today is probably the place of Silicon Valley five years ago in terms of investment opportunities and pursuing lags.
As a result, interest in high global investors and this was just the beginning,” he said.
When the initial drive like Ather Energy, Magenta Power, Ampere and Okinawa reported uptick in sales, and with buzz produced by Ola Electric vehicles, more expected private investment flowing into this sector.
Maharashtra, Tamil Nadu, Karnataka and Gujarat are some states that launch incentives to encourage EV adoption.
Indian electric vehicle sales will grow at 26% at FY21-23, Fitch Solutions said in the latest records.
Nakul Kukar, Co-Founder and CEO of cell propulsion of fluel-electrification providers (which collect $ 2 million this year), say global VC and the company’s arms are relatively more active in the segment.
Cell propulsion is currently preparing for the series – raising funds and has received a lot of interest in from the main VC funds, he added.
The BLIVE EV Experience platform, which promotes EV tourism and has a multi-brand online EV Store, says it has a customer base in more than 50 cities and immediately launched an offline store.
“We plan to raise our series – early next year, by when we will have more than 20 offline stores and running.
We have been in discussions with investors who enter funds consistently in the category,” said Co-Founder & CEO Samarth Kholkar.

news2in

Share
Published by
news2in

Recent Posts

44 ordered to attack the procession

Ludhiana: The police have submitted FIR to four identified and at least 40 unknown attackers…

3 years ago

Punjab: Police Reject conspiracy theory in the case of Deep Sidhu

Sonīpat / Ludhiana / Ambala: Actor Punjabi - Activist Activist Deep Sidhu, who died in…

3 years ago

Punjab: Hidden Strength Working Behind PM Narendra Modi, Arvind Kejriwal, said Rahul Gandhi

PATIALA / MANSA / BARNALA: Attacking Prime Minister Narendra Modi and AAP National Convener Kejriawal,…

3 years ago

BJP made AAP to endanger the Congress, said Ajay

Jalandhar: BJP and AAM AAM AADMI parties are one party, Secretary General of the Ajay…

3 years ago

Our job is to make Punjab No. 1 State: Meenakshi Lekhi

Ludhiana: Minister of Union Culture Meenakshi Lekhi while campaigning to support the BJP candidate from…

3 years ago

Feb 20 is an opportunity to change the destiny of Punjab and his children: Bhagwant Mann

Machhiwara (Ludhiana): AAM AAM AADMI Party (AAP) Head of Punjab Candidate and Members of Parliament…

3 years ago